Brokers Promise Finance Ltd

[Sparkie1723]

I have started this thread about Promise Finance Ltd who went into voluntary liquidation in 2008 & Promise Solutions Ltd, which was the parent Company of Promise Finance Ltd, who then bought the company in Liquidation for £ 10,000 (Assets of over £ 90,000)

That’s a good investment for a start isn’t it??

I’ll be posting some very interesting aspects about this “buy back” a bit later.

But the first thing I would like people to be aware of is that this is linked to Swift Advances plc.

Promise Finance Ltd were our Brokers in our loan deal with Swift Advances plc, Promise Finance Ltd at no time even hinted that they would receive commission.

In Court under oath Mr Mark White stated quite categorically and clearly in front of two independent witness’s who were in court at the hearing all day, that “Swift” (his word) do not pay commission.

This is what the managing director of Promise Solutions Ltd has to say on the issue of what is now known and confirmed that “secret commission”. was paid by Swift Advances plc on ALL loans arranged by Promise Finance Ltd.









Therefore there is now no doubt whatsoever that Mr White committed perjury and has committed it on two other occasions in two other courts.

The next letter is a letter to another customer of Swift Advances plc who on my advice made the same enquiry to Promise Solutions Ltd about the commission on their loan.
You will note that it is from the same named person ( the managing director of Promise Solutions Ltd) who has not signed it nor stated his position in the company.




In this letter he is telling a different story and saying that the administrator/Promise Finance Ltd has the information, and they should contact either Promise Finance Ltd or the administrator.
How can they contact a company that no longer exists?

The administrator advised me in 2009 that all documentation about Promise Finance Ltd had been filed and archived in Companies House and even he could not access them once they had been filed, and advised that I made an SDAR to Promise Finance Ltd as they would hold the information I was seeking, they kept hold of all the computers that were used by Promise Finance Ltd, which would have that information on as they both used the same computers from the same offices.

Every single borrower of Swift Advances plc and Swift 1st Ltd now have confirmation and proof that commission was paid by Swift Advances plc and Swift 1st ltd and received by Promise Finance Ltd, on their loan, and that commission was a minimum of £1408.65 plus the £100 EXTRA income ( the documentary fee for the “packaging” I believe )……Isn’t that what we pay brokers their fee for. ? We paid the £3225 in fees and we were led to believe that was all they would receive.

Lots of further information will be posted later

Sparkie

I take full resposibility for this post ....No liability can be placed on Legal Beagles whatsoever

[Sparkie1723]

Re: Brokers Promise Finance Ltd

Here are some extracts from an e-mail from Promise Solutions ltd ...they warn me in that they will sue me for damages I have told them in as many words bring it on...save me the cost of suing them.


Promise Solutions is keen to deal with any genuine complaints in an effective and fair manner. In regard to your complaint below I cannot see that the company has a case to answer so I cannot uphold your compliant or provide you with the response you seek.

Section 140 of the CCA claim going to be made for our commission back, backed up by he Kelvin Jack Supreme Court ruling & the Hurstanger ruling

As Promise Solutions Ltd was not involved with your transaction with Swift, under the circumstances it seems there is little to be achieved by continued email exchange regarding matters which are outside the control of Promise Solutions. The company will therefore not comment further in this informal manner or respond to the other points in your email below.

The Directors of Solutions & Finance were EXACTLY the same people, we also have the following documents submitted By Swift Advances plc in their court bundle with ….PROMISE SOLUTIONS LTD stamped on every page
1. Copy of our full joint credit file report
2. Copies of both our driving licenses
3. Copies of Bank statements


However we cannot comment formally on behalf of Promise Finance Ltd or Swift.

Again same Directors, same office

You have referred to certain assets which Promise Solutions purchased from the administrator of Promise Finance.
I believe all of these assets were either items of specified equipment or records/information. Your assertions below are incorrect.

They bought the whole company back in reality ……as shown on this document







but they bought it under a false company Registration number as seen from this document.
This company Number belonged to a company that dissolved in 1996






A company NUMBER can never be used again when liquidated/dissolved….a company name can …but a number cannot.
This is who that company number belonged to
Name & Registered Office:
ARG (SLP) LIMITED
KINGSGATE HOUSE
HIGH STREET
REDHILL
SURREY
RH1 1SG
Company No. 02246797


Status: Dissolved 17/12/1996
Date of Incorporation: 21/04/1988

Name & Registered Office:
ARG (SLP) LIMITED
KINGSGATE HOUSE
HIGH STREET
REDHILL
SURREY
RH1 1SG
Company No. 02246797


Status: Dissolved 17/12/1996
Date of Incorporation: 21/04/1988


Name & Registered Office:
ARG (SLP) LIMITED
KINGSGATE HOUSE
HIGH STREET
REDHILL
SURREY
RH1 1SG
Company No. 02246797
Status: Dissolved 17/12/1996Date of Incorporation: 21/04/1988


Company Number of Finance was 04651036
Company of Solutions is 04822774


Anyone who had their "Swift"??? loan arranged by Promise Finance Ltd can claim their commission they paid back plus interest at their agreement rate.......the evidence is posted.
Sparkie

I take FULL responsibility for this post no responsibility can be levied at Legal Beagles whatsoever

[Sparkie1723]

Re: Brokers Promise Finance Ltd

If you refer to the two letters from the MD of Promise Solutions Ltd I point out the following.
Letter to me;
In order to state precisely that the amount of commission that would have been allocated to our loan, and the fact that a block cheque ( so he says) was received from Swift Advances plc about 1 month into the loan, it proves that they have the records of the total amount received from “Swift” on or around 4th May 2007.

If they have the records of the month of May 2007, it is more likely that not they will have the record of each and every month i.e. Jan 2007 Feb 2007 March 2007 April 2007 and so on.

How can he then say in the letter to the other customer who took their loan out in Jan/Feb 2007 that they hold no records of the commission paid on their loan.

The £1408.65 is exactly 3% of our loan total.(£46,955)

If we do the calculations the total amount of commission they say was received for the month of April (paid in May). if we take that as 3% of the Total commission received that month this works out at £46,955.

Now isn’t that a coincidence that the total commission the MD says was allocated to our loan out of this total commission received is the exact amount of our loan?

I do not believe this person, not the content of his letter and I will ask that he attends the proceedings I intend to instigate to get our money back.
I say that that particular month they only handled one loan with Swift Advances plc .....and that was ours.

They therefore have a complete record of our loan, this claim is backed up by the documents we have with Promise Solutions Ltd stamped all over them, produced by "Swift" in Court

Can everyone follow what I am getting at??

Hope so.

A letter before action is being sent to Promise Solutions Ltd today.

Sparkie

[Ihaterbs]

Re: Brokers Promise Finance Ltd

awesome!

[Sparkie1723]

Re: Brokers Promise Finance Ltd

awesome!

Thank you Ihaterbs,

I think this will help a lot of people claim their commission back that "Swift" have paid and denied paying it.

Sparkie

[The Debt Star]

Re: Brokers Promise Finance Ltd

Good thread guys. Bloddy disgraceful how directors let companies go into liquidation and then reform as another company like that.

[Sparkie1723]

Re: Brokers Promise Finance Ltd

I sent this e-mail to Promise Solutions Ltd...........I have had no reply or acknowledgement.

Sparkie

To Debbie Round
Promise Solutions Ltd
Dear Debbie Round,

I note Mr Walker signed the letter to me as Managing Director of the Promise Group, Is he aware that " Group" is one of the restricted business names under the Business Names Act of 1985, and that special permission has to be obtained from the Secretary of State to be able to use it??, Especially when it is already in use by another limited company.
( Promise Group Ltd…. Company registration number..03146351)

Also I note that Promise Group is not a trading name that is listed on Promise Solutions Ltd CCA licence copied below issued in 2009
Section 39(2) of the CCA 1974 states this
" A licensee under a standard licence who carries on a business under a name not specified in the licence commits an offence"

You should be aware that this offence is deemed to be a criminal offence......which of course I will be making the police aware of this also at my next meeting with them.

For your reference I copy the names that are specified on said licence below

Regards

"Sparkie??!!"

Trading Name(s) (Current):
Loans Stretcher
On Line Advisor
Pinpoint
Promise
Promise Car Credit
Promise Cover Plus
Promise Debt Solutions
Promise Direct
Promise Finance
Promise Holidays
Promise Homes
Promise Land
Promise Loans
Promise Loans & Mortgages
Promise Mortgages
Promise Personnel
Promise Quote
Promise Quote Pro
Promise Solutions
Promise Solutions Network
Promise Windows
Prpmise Holidays
Secured Loan Network
www.a2bfinance.co.uk
www.a2bloans.co.uk

[Sparkie1723]

Re: Brokers Promise Finance Ltd

Promise Solutions Ltd say that they do not holedvery much information about us or our loan application......How do they explain these...have removed all personal info.............have another 10 documents with their stamp on ..................these were submitted in Court by Swift Advances plc in their possession evidence documents.

Sparkie

[Sparkie1723]

Re: Brokers Promise Finance Ltd

Also posted this on the Swift Advances plc thread.

Now I have the evidence I can now take action against both "SwifT and Promise" for undisclosed denied Sectret commission.
That's what the law says about this...............an action can be taken against against either the payer or the recipient..............this is the way to get Mr White, Mr Webster and Mr Walker in the same Court room...........that will be very interesting ...........letters before action are being sent to day by e-mail and recorded delivery.
Just a burst across the Bows for starters

There will also be some some sparks flying because Promise Finance Ltd held a CCA licence but did not have an ICO licence Promise Solutions did not have a CCA licence but held an ICO licence....neither were on each others as a trading name!!
a LTD company cannot be a trading name on a licence ......................each one has to hold their own separate licence.

Both the OFT and the ICO are being made aware of the Company Number that was used by Promise Solutions Ltd to buy Promise Finance Ltd from the administrator.........I'll put my reasons for this later and I firmly believe what I will post.

I have also got a full list of the inventory that Promise Solutions Ltd bought which included Dell computer monitors and base units (10) lap tops...servers ....window servers licencing poacks hard drives Krahl com servers a further 9 computer base ........these would have held evry single bit of information that Promise Finance Ltd had ........and they try to tell me and one of their other customers they only have "very limited info"...........I leave you all to make your mind up if that is to believed..........remember the only way data can be deleted from a computer is that the hard drive MUST be physically destroyed.

Sparkie

[CleverClogs]

Re: Brokers Promise Finance Ltd

1. A company does not need a licence from the ICO, but must notify the ICO about the data it is processing
   
2. acting as a credit broker without a Consumer Credit Licence is a very serious offence, for which the Office of Faffing and Twaddling will do next to bugger all
   
3. it is possible to undelete data merely by adding an inirial character to the deleted character listed in the directory/FAT but, if the file had been overwritten - as would happen if an erasure program had been used - only forensic examination could retrieve any of the data

[Sparkie1723]

Re: Brokers Promise Finance Ltd

1. A company does not need a licence from the ICO, but must notify the ICO about the data it is processing
   
2. acting as a credit broker without a Consumer Credit Licence is a very serious offence, for which the Office of Faffing and Twaddling will do next to bugger all
   
3. it is possible to undelete data merely by adding an inirial character to the deleted character listed in the directory/FAT but, if the file had been overwritten - as would happen if an erasure program had been used - only forensic examination could retrieve any of the data

Hi CleverClogs
How are you matey.
Processing data with out notification is a criminal offence under section 21(1) of the DPA.
That is how a licence is obtained .............on notification.
This offence is prosecutable under Section 55 of The Act.

Processing data without notification and a licence which is obtained by said notification .........is allowed for only 28 days before notification............. if data is processed ......for say 2 months before and is then notified an offence has still been committed.
The notification is the request for a licence to be issued.
The notification must state quite clearly and specically what categories the applicant wishes to obtain the licence for.
I have been studying every aspect of the DPA since 2000 and know it reasonably well

Thanks for the input every little bit helps and is appreciated

Sparkie

[Sparkie1723]

Re: Brokers Promise Finance Ltd

I have in my possession the full accounts of Promise Finance Ltd prepared by the Administrator some 61 Pages of detailed accounts they show the name of each and every lender and creditor Promise Finance Ltd dealt with from May 2006 until March 2008.

These accounts show every commission payment and every brokers fee that were received by Promise Finance Ltd from the various lenders they dealt with

Neither Swift Advances plc nor Swift 1st Limited are shown anywhere in these accounts.


So what would one conclude about this with regards to our loan? Bearing in mind the involvement of Promise Solutions Ltd with the bank statements driving licences etc etc.

I submit that it was Promise Solutions Ltd that conducted all the documentation and it was that company that was our true broker and it was to Promise Solutions Ltd that Swift Advances plc paid our brokers fee, the extra £100 packaging fee .......AND............. the £1408 odd commission.
"Promise" say it was £1408.65
"Swift" have now finally admitted it was £1408.75

I know they are collaborating over this......but even so can't get their sums right............its only 10p but its not correct

That is how they were able to provide this figure so quickly, they have a complete record of everything.

Things look a little sinister don’t you think??

Sparkie

[Sparkie1723]

Re: Brokers Promise Finance Ltd

On the lighter side of things......Promise Finance Ltd had an Ipod as part of their assets according to their inventory ...Solutions have it now.....wonder who plays the games on it layball:and when????

Sparkie

[Sparkie1723]

Re: Brokers Promise Finance Ltd

I have made preliminary contact with the administrators De Loitte & Touche regarding Promise Finance and Promise Solutions Ltd, I am waiting a phone call from one of the senior people there

I will be asking them to confirm what Solutions have told me ......." That all paper documents were taken away by the Administrators, because I don't believe them .....for reason the administrator employed the staff of Solutions to carry out the accounting and recording of Finances business on their behalf.

I want a copy of the hand written application form I filled in and sent to promise over the internet because it is not the one Swift produced in Court which did not contain all the information I had put on my handwritten one..........I'll post that up later.

I will be asking where the accounts from May 2006 to May 2007 are and if the administrator had sight of them, because none were filed at companies house and the administrators accounts started from Feb 2008 to JUly 2009 when Solutions bought Finance back............they had to because of the computers and the info that was on them.

This was because both Solutions and Finance used the same computers in the same office, and under the data protection Act and HMRC rules all this documentaion must be kept for 6 years, furthermore Finances own auditors have no record of the because I have asked them.

I will be asking why Solutions did not buy Finance Back under their own proper company number ...instead of using a dissolved companys number....and was the administrator aware of this ............as this could be an act of fraud by deception.

I'll keep everyone in touch with all these goings on...........this shows just how murky & dirty the world of brokers and lenders in the subprime market operates.

Also the administartor agreed with Solutions request to continue process all loan applications that Finace had started.......did they know that Solutions did not hold a CCA licence to do this......CCA licences are not transferrable.....they could not rely on that licence as Finance had ceased trading.........I believe the Directors of Solutions were/did commit an offence under the CCA licensing regime, carrying out CCA business without a licence
Even the Insolvency Act cannot breach the CCA Act in that respect.

Solutions did not get their CCA licence until December 2009

Sparkie
Remember everyone I have no legal training and my views are not to taken as legal advice.........I am a dumb 74 year old senile auto spark

[Sparkie1723]

Re: Brokers Promise Finance Ltd

Received a return call from the London office of Deloitte & Touche at 5.30 pm today.............they are going to assist me in every way possible .......they have told me things that will affect our claim against Promise Solutions Ltd and place them in serious, serious difficulties, ...................................they have given name the personal e-mail address's of the two administrators in their Bristol office who handled the administration of Promise Finance Ltd, ...................................the London office will be making them aware and to expect an e-mail letter from me, and they are to asssist me to the maximum.

I have already been advised of one thing for certain, what Mr Walker has said in that letter is not "quite???" correct to say the least.................................... won't post this until have got what I was told in writing .....but it is pretty damming for the MD and directors of Promise Solutions Ltd.

Sparkie